Loan EMI Calculator – Monthly Payment and Total Interest
Monthly EMI
10,500.93
130,055.84
Total interest
630,055.84
Total payment
Uses the standard reducing-balance EMI formula. Figures are estimates for planning — your lender's exact terms may differ.
About Loan / EMI Calculator
Enter the loan amount, the annual interest rate and the term, and see your Equated Monthly Instalment along with the total interest you will pay and the total amount repaid.
An EMI is a fixed monthly payment covering both interest and principal. Early in the loan most of each payment is interest; later most of it is principal. This calculator uses the standard reducing-balance formula that banks use, so the figure should match a lender quote for the same inputs.
The number worth studying is not the monthly payment but the total interest. Stretching a loan over a longer term lowers the monthly figure and raises the total cost, often dramatically. Trying a few different terms here makes that trade-off visible before you commit to one.
What you can use it for
- Work out the monthly payment on a home, car, personal or education loan.
- Compare what the same loan costs over different terms before choosing one.
- See how much total interest a loan adds on top of the amount borrowed.
- Check a lender's quoted EMI against an independent calculation.
- Work backwards to find the loan amount that fits a monthly budget you can afford.
How it works, step by step
- 1
Enter the loan amount
The principal you intend to borrow.
- 2
Enter the interest rate
The annual rate offered by the lender.
- 3
Set the tenure
The length of the loan.
- 4
Read the breakdown
The monthly EMI, the total interest and the total amount payable are shown together.
Frequently asked questions
How is EMI calculated?
With the standard reducing-balance formula: P x r x (1+r)^n divided by ((1+r)^n - 1), where P is the principal, r is the monthly interest rate, and n is the number of monthly instalments.
Why does a longer tenure cost more overall?
Because interest accrues on the outstanding balance for longer. A longer term lowers each monthly payment but raises the total interest, often by a very large amount. Compare a few terms here to see the difference.
Does this include processing fees or insurance?
No. It calculates the loan itself. Lenders often add processing fees, insurance or other charges, so the real cost can be higher than the figure shown.
Does it handle floating interest rates?
It assumes a fixed rate for the whole term. If your rate is floating, the EMI or the tenure will change when the rate does, so treat the result as a snapshot at the current rate.
Are my loan details sent anywhere?
No. Everything is calculated in your browser and nothing you enter is uploaded or stored.